I was pleased to review the advice one of my employees gave one of our clients on the creation of a LLC type of business for taxation purpose over other forms of businesses. I agree with all of the advice he offered the clients, though I want to add a little bit on the information he availed to them on LLC’s. My advice will still be based on the follow up interviews my firm had with them, and I want to make sure that they understand completely of what constitutes of LLC businesses.
As business owners, I am sure they were faced with numerous critical decisions, including what types of business structures were open to them and their business. While there are numerous structures allowed in the country of partnership, sole- proprietorship or corporation for ownership of businesses, the most appropriate structure for their company was found to be a limited liability company. I want to clarify further on what this is.
A limited liability company, or a LLC, is a type of business ownership that combines a number of features of structures or corporation and partnership. It is, therefore, not a partnership or a corporation. It might be referred to as a limited liability corporation. Members in such partnerships are referred to as shareholders or partners. In this case, the number of members is unlimited and might be corporations, individuals or other LLCs, therefore, with time if they want they can incorporate such members(Keatinge et al., 1992).
This form or structure of companies has numerous advantages. For instance, owners of a LLC posses the liability protection of corporations. A LLC occurs as an entity, which is separate just like a corporation. Therefore, members of such a company cannot be held responsible for company debts unless they have agreed to in a written agreement. Another advantage is that it imposes on the company a flexible manner of sharing profits. These companies can select different kinds of distribution of gains. Unless other forms of companies that only allow half- half-splitting of profits, these companies allow a more flexible distribution of profits(Keatinge et al., 1992).
While numerous corporations are required to keep minutes that are formal, record resolutions and hold formal meeting, the LLC structure does not, and, therefore, it is easier to run. It also allows all the losses, expenses and profits of the company to flow through the company to individual company members. Generally, this imposes on the company a tax advantage because it makes it possible to avoid double taxation(LLC history).
I also want to bring to the attention of the clients some of the crucial limitations associated with LLCs, which to me are insignificant to their business when compared to the number of advantages they will obtain from this business structure. One of the essential limitations of a LLC is that it has a shorter life when compared to corporations. Another limitation is that it limits the owners from making the business public(Ribstein,1995).
For the purposes of tax, I want to advise them further on how they will be treated by the IRS. A LLC like theirs with multiple owners is not required by LLC tax law to file federal tax returns. This is because each member is supposed to pay taxes according to their share of profits from the company. The initial company agreement they will draw, therefore, will set forth the distribution share each member will get, and their shares and loses will be distributed accordingly(Ribstein,1995).
I hope that this will be of more use to the clients as they decide on which structure of company they will file for. You are welcome anytime to our offices for more information if you so wish.
References
Keatinge et al.(1992).The Limited Liability Company: A Study of the Emerging Entity. Business Lawyer 375: 383-384.
LLC history. Historical Background of the Limited Liability Company. Retrieved from http://www.llc-reporter.com/16.htm
Ribstein, L. E.(1995). A Critique of the Uniform Limited Liability Company Act. Stetson Law Review 312: 322 28.
Get Professional Assignment Help Cheaply
Are you busy and do not have time to handle your assignment? Are you scared that your paper will not make the grade? Do you have responsibilities that may hinder you from turning in your assignment on time? Are you tired and can barely handle your assignment? Are your grades inconsistent?
Whichever your reason is, it is valid! You can get professional academic help from our service at affordable rates. We have a team of professional academic writers who can handle all your assignments.
Why Choose Our Academic Writing Service?
- Plagiarism free papers
- Timely delivery
- Any deadline
- Skilled, Experienced Native English Writers
- Subject-relevant academic writer
- Adherence to paper instructions
- Ability to tackle bulk assignments
- Reasonable prices
- 24/7 Customer Support
- Get superb grades consistently
Online Academic Help With Different Subjects
Literature
Students barely have time to read. We got you! Have your literature essay or book review written without having the hassle of reading the book. You can get your literature paper custom-written for you by our literature specialists.
Finance
Do you struggle with finance? No need to torture yourself if finance is not your cup of tea. You can order your finance paper from our academic writing service and get 100% original work from competent finance experts.
Computer science
Computer science is a tough subject. Fortunately, our computer science experts are up to the match. No need to stress and have sleepless nights. Our academic writers will tackle all your computer science assignments and deliver them on time. Let us handle all your python, java, ruby, JavaScript, php , C+ assignments!
Psychology
While psychology may be an interesting subject, you may lack sufficient time to handle your assignments. Don’t despair; by using our academic writing service, you can be assured of perfect grades. Moreover, your grades will be consistent.
Engineering
Engineering is quite a demanding subject. Students face a lot of pressure and barely have enough time to do what they love to do. Our academic writing service got you covered! Our engineering specialists follow the paper instructions and ensure timely delivery of the paper.
Nursing
In the nursing course, you may have difficulties with literature reviews, annotated bibliographies, critical essays, and other assignments. Our nursing assignment writers will offer you professional nursing paper help at low prices.
Sociology
Truth be told, sociology papers can be quite exhausting. Our academic writing service relieves you of fatigue, pressure, and stress. You can relax and have peace of mind as our academic writers handle your sociology assignment.
Business
We take pride in having some of the best business writers in the industry. Our business writers have a lot of experience in the field. They are reliable, and you can be assured of a high-grade paper. They are able to handle business papers of any subject, length, deadline, and difficulty!
Statistics
We boast of having some of the most experienced statistics experts in the industry. Our statistics experts have diverse skills, expertise, and knowledge to handle any kind of assignment. They have access to all kinds of software to get your assignment done.
Law
Writing a law essay may prove to be an insurmountable obstacle, especially when you need to know the peculiarities of the legislative framework. Take advantage of our top-notch law specialists and get superb grades and 100% satisfaction.
What discipline/subjects do you deal in?
We have highlighted some of the most popular subjects we handle above. Those are just a tip of the iceberg. We deal in all academic disciplines since our writers are as diverse. They have been drawn from across all disciplines, and orders are assigned to those writers believed to be the best in the field. In a nutshell, there is no task we cannot handle; all you need to do is place your order with us. As long as your instructions are clear, just trust we shall deliver irrespective of the discipline.
Are your writers competent enough to handle my paper?
Our essay writers are graduates with bachelor's, masters, Ph.D., and doctorate degrees in various subjects. The minimum requirement to be an essay writer with our essay writing service is to have a college degree. All our academic writers have a minimum of two years of academic writing. We have a stringent recruitment process to ensure that we get only the most competent essay writers in the industry. We also ensure that the writers are handsomely compensated for their value. The majority of our writers are native English speakers. As such, the fluency of language and grammar is impeccable.
What if I don’t like the paper?
There is a very low likelihood that you won’t like the paper.
Reasons being:
- When assigning your order, we match the paper’s discipline with the writer’s field/specialization. Since all our writers are graduates, we match the paper’s subject with the field the writer studied. For instance, if it’s a nursing paper, only a nursing graduate and writer will handle it. Furthermore, all our writers have academic writing experience and top-notch research skills.
- We have a quality assurance that reviews the paper before it gets to you. As such, we ensure that you get a paper that meets the required standard and will most definitely make the grade.
In the event that you don’t like your paper:
- The writer will revise the paper up to your pleasing. You have unlimited revisions. You simply need to highlight what specifically you don’t like about the paper, and the writer will make the amendments. The paper will be revised until you are satisfied. Revisions are free of charge
- We will have a different writer write the paper from scratch.
- Last resort, if the above does not work, we will refund your money.
Will the professor find out I didn’t write the paper myself?
Not at all. All papers are written from scratch. There is no way your tutor or instructor will realize that you did not write the paper yourself. In fact, we recommend using our assignment help services for consistent results.
What if the paper is plagiarized?
We check all papers for plagiarism before we submit them. We use powerful plagiarism checking software such as SafeAssign, LopesWrite, and Turnitin. We also upload the plagiarism report so that you can review it. We understand that plagiarism is academic suicide. We would not take the risk of submitting plagiarized work and jeopardize your academic journey. Furthermore, we do not sell or use prewritten papers, and each paper is written from scratch.
When will I get my paper?
You determine when you get the paper by setting the deadline when placing the order. All papers are delivered within the deadline. We are well aware that we operate in a time-sensitive industry. As such, we have laid out strategies to ensure that the client receives the paper on time and they never miss the deadline. We understand that papers that are submitted late have some points deducted. We do not want you to miss any points due to late submission. We work on beating deadlines by huge margins in order to ensure that you have ample time to review the paper before you submit it.
Will anyone find out that I used your services?
We have a privacy and confidentiality policy that guides our work. We NEVER share any customer information with third parties. Noone will ever know that you used our assignment help services. It’s only between you and us. We are bound by our policies to protect the customer’s identity and information. All your information, such as your names, phone number, email, order information, and so on, are protected. We have robust security systems that ensure that your data is protected. Hacking our systems is close to impossible, and it has never happened.
How our Assignment Help Service Works
1. Place an order
You fill all the paper instructions in the order form. Make sure you include all the helpful materials so that our academic writers can deliver the perfect paper. It will also help to eliminate unnecessary revisions.
2. Pay for the order
Proceed to pay for the paper so that it can be assigned to one of our expert academic writers. The paper subject is matched with the writer’s area of specialization.
3. Track the progress
You communicate with the writer and know about the progress of the paper. The client can ask the writer for drafts of the paper. The client can upload extra material and include additional instructions from the lecturer. Receive a paper.
4. Download the paper
The paper is sent to your email and uploaded to your personal account. You also get a plagiarism report attached to your paper.
PLACE THIS ORDER OR A SIMILAR ORDER WITH US TODAY AND GET A PERFECT SCORE!!!
